Readme file 
"Which Reforms Work and Under What Institutional Environment? Evidence from a New Data Set on Structural Reforms"
Alessandro Prati, Massimiliano G. Onorato, and Chris Papageorgiou
Review of Economics and Statistics, July 2013, 95(3): 946-968.
Corresponding author: Chris Papageorgiou. Email: cpapageorgiou@imf.org

The do-files TABLE1, TABLE2, TABLE3, TABLE4, TABLE5, TABLE6, TABLE7, TABLE8, TABLE9, TABLE10, TABLE11, and TABLE12
replicate the results reported in the corresponding Tables of the paper. 
All estimates are obtained by using the software Stata 11.2.
Please, before running the do-files make sure to modify as necessary the directory line cd "".

Note that the do-file TABLE2 produces as output TABLE2_Q1, TABLE2_Q2, TABLE2_Q3, and TABLE2_Q4 with the coefficient and
standard errors estimates reported, respectively, in the rows First, Second, Third, and Fourth quartile of the Table 2 of the paper.
The do-file also produces the test of the coefficients reported at the bottom of Table 2.
The same logic applies to the do-files TABLE3 and TABLE4.

The variables used for the analysis reported in the Table 1 to Table 12 are in the dataset RESTAT_REFORMS.dta and 
they are described below.

ifs                 IFS Country Code
code                WB Country Code
country             Country Name
year                Year
rgdpch              GDP per capita PWT chain series, supplemented with WDI data if PWT data missing. Sources: Penn World Tables 6.2 and WDI.
TR                  Trade: New Trade Index, Updated and Interpolated back to 1960. See Appendix 2 in supplementary materials for sources and description.
CUR100              Financial restrictions on current account transactions, Quinn: 0-1 scale. See Appendix 2 in supplementary materials for sources and desription.
AG                  Agriculture. See Appendix 2 in supplementary materials for sources and desription. 
NW                  Networks. See Appendix 2 in supplementary materials for sources and desription.
DF                  Domestic Finance. See Appendix 2 in supplementary materials for sources and desription.
BK                  Banking. See Appendix 2 in supplementary materials for sources and desription.
SM                  Securities. See Appendix 2 in supplementary materials for sources and desription.
CAP100              Restrictions on capital account transactions, Quinn: 0-1 scale. See Appendix 2 in supplementary materials for sources and desription.
CAPRES              Restrictions on capital account transactions by residents, Quinn: 0-1 scale. See Appendix 2 in Supplementary materials for sources and desription.
CAPNONRES           Restrictions on capital account transactions by nonresidents, Quinn: 0-1 scale. See Appendix 2 in Supplementary materials for sources and desription.
rgdpch_US           US GDP per capita. Source: see rgdpch
TOT1                Country specific terms of trade. Source: World Economic Outlook (2010)
polity2             Polity 2 indicator. Source: Polity IV Project.
enrol_tx            Tertiary school enrolment. Source: Barro and Lee (2010).                  
ifsdum1-ifsdum163   Country dummy variables.      
yeardum1-yeardum34  Year dummy variables.       
lGDP                Log of GDP per capita.
lGDP1               One year lag of lGDP.
GDP_Gr              GDP per capita growth.             
GDP_US              Ratio of GDP per capita and the US GDP per capita as a proxy for distance to the technology frontier.
GDP_US1             One year lag of GDP_US.
TR1                 One year lag of TR
CUR1001             One year lag of CUR100
AG1                 One year lag of AG
NW1                 One year lag of NW
DF1                 One year lag of DF
BK1                 One year lag of BK
SM1                 One year lag of SM
CAP1001             One year lag of CAP100
CAPRES1             One year lag of CAPRES
CAPNONRES1          One year lag of CAPNONRES
enrol_tx1           One year lag of enrol_tx
TOT11               One year lag of TOT1
polity21            One year lag of polity2
ADVANCED            Indicator equal to 1 for advanced economies. Source: IMF.
DEV_EMERGING        Indicator equal to 1 for developing and emerging economies. Source:IMF.
quartexpr           Quartiles of average protection against expropriation risk. Source: average protection against expropriation risk; Acemoglu, Johnson, and Robinson (2001).
QUAR_FRONT          Quartiles of the average distance from the technology frontier, based on the variable GDP_US.
QCONSTR             Quartiles of the average of constraints on the executive. Source: the indicator xconst in the Polity IV Project.
 